Daily Gold Coin Update
February 27, 2009 – American Eagle coins have been the favored bullion coin to investors and collectors for several years and just recently the flock to safe haven metals have made them an ideal investment to own as the economy continues to worsen. The latest GDP data shows that the United States economy shrank nearly twice as fast as expected during the fourth quarter of last year, which is increasing the demand for precious metals such as American Eagle coins as a risk aversion method from potential losses that could occur sooner than expected. 2009 is headed to a rough start and several market analysts believe that the economy will take six months to a year to recover as that is how long the stimulus plan is projected to take full effect. That being said, taking advantage of the market now could be a sound way of maximizing the investment potential of a precious metal investment.
Today during the midday trading hours, gold is trading at around $936.40 per ounce, a decrease in value of $9.10 for the trading day but still an increase in value of $50 in the last 30 trading days, not bad considering the Standard & Poor’s losses in value of up to 15% so far. Precious metal products such as the American Eagle coins have proven to be one of the best safe haven assets to own during both deflationary and inflationary economic environments, so hopefully investors realize their potential and invest while these coins are still widely available at an affordable price. I wish you the best of luck when investing and when diversifying your portfolio.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
